Coinbase Q3 Profit Hits $719M as Trading Revenue Stays Weak

Coinbase increased its trading market share to 10.7%, although transaction revenue remained under pressure. Subscription and services accounted for 49% of net revenue, supported by USDC economics and record Coinbase One subscriptions. Prediction markets surpassed $200 million in annualized revenue, adding a new business line beyond conventional cryptocurrency trading. Coinbase reported $719 million in third-quarter net income, but the results reveal a different picture of the exchange’s operating performance: trading revenue remains under pressure even as its share of cryptocurrency transactions grows. The company generated approximately $1.22 billion in revenue during the three months ended September 30, 2026.